HEALTHCARE ECONOMICS:Study Highlights Opportunities to Reduce Spending on Costly Specialty Drugs
New report says payers could benefit by transitioning specialty medications from the medical to the pharmacy benefit.
Specialty drugs present a challenge for payers as costs for these complex and expensive drugs consume an increasing portion of overall health care spending. In fact, specialty pharmacy spend is expected to rise from $92 billion in 2012 to $235 billion by 2018. And more than half of specialty medication spending currently occurs under the medical benefit of insurance plans. Moving that benefit to a pharmacy benefit can produce significant savings for healthcare payers by improving management of specialty drugs, according to a new report. Read More